Prada to release its own NFT collection

A total of 100 unique tokens associated with the brand’s actual products will be available

31.05.2022 - 08:15

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What’s new? Italian brand Prada has announced the release of its Timecapsule NFT collection based on the Ethereum fork called Quorum. The project was implemented jointly with artist Cassius Hirst and blockchain consortium Aura. This is reported by Decrypt.

News on the Decrypt website

Aura is a non-profit organization founded by Prada and Cartier, as well as LVMH, which brings together brands such as Christian Dior, Louis Vuitton, and Givenchy. Aura supplies solutions for the authentication of luxury goods.

What else is known about the collection? Each token contains an image of a black or white capsule and is associated with physical goods — collectible shirts that will be delivered to NFT owners. The token will also contain information about the serial number of the product to combat counterfeit luxury goods. A total of 100 NFTs will be issued and the release will take place on Thursday, June 2.

What events happened before? In April, athletic apparel and footwear brand Nike released digital NFT sneakers in collaboration with RTFKT Studios based on Ethereum. RTFKT x Nike Dunk Genesis CryptoKicks are digital shoes that can change styles. The first crypto sneakers were issued to NFT RTFKT holders.

In May, fashion house Balenciaga announced that it would begin accepting cryptocurrency payments at its flagship stores in the United States. The brand would accept bitcoin and Ethereum as payment at select locations, including branches on Madison Avenue in New York and Rodeo Drive in Beverly Hills, as well as at its online store.

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